SecurityandCollateralAgentAgreement贷款担保条约doc.docx
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SecurityandCollateralAgentAgreement贷款担保条约doc.docx
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SecurityandCollateralAgentAgreement贷款担保条约doc
SecurityandCollateralAgentAgreement贷款担保协议-
WHEREAS,theBorrowerhassoldandcontemplatesselling,fromtimetotime,poolsofreceivablestovarioustrustswhichhaveissuedormayissuevariousseriesofnotesorcertificates(eachaSERIES)whichwillberepaidfromtheproceedsof,orrepresentaninterestin,suchpoolsofreceivables;
WHEREAS,aspreadaccounthasbeen,anditiscontemplatedthatinaccordancewiththetermsofeachfutureSeries,shallbe,establishedintowhichtheBorrowerand/orCCCTrust,aDelawarebusinesstrustwhichisownedbytheBorrower(theSPREADACCOUNTDEPOSITOR)hasdeposited,orshallbeobligatedtodeposit,certainmoneysonorabouttheclosingdateforeachSeries(eachanINITIALSPREADACCOUNTDEPOSIT,andcollectively,theINITIALSPREADACCOUNTDEPOSITS
WHEREAS,inordertoreducetheamountwhichtheSpreadAccountDepositorisobligatedtoadvanceasanInitialSpreadAccountDepositwithrespecttocertainfutureSeries,theBorrowerintendstodepositcertainmoneysonorabouttheclosingdateforeachsuchSeries(eachaRCCADEPOSIT,andcollectively,theRCCADEPOSITS)inareplacementcashcollateralaccount(each,anRCCA,andcollectively,theRCCAS)toprovidecreditsupporttoFSA(asdefinedherein)inconnectionwiththeinsurancepoliciesithasissuedandwillissuewithrespecttotheSeries;
WHEREAS,inordertofundtheRCCAs,theBorrowerhasrequestedthattheLendersestablisharevolvinglineofcredittotheBorrowerprovidingforBorrowingsofupto$_________intheaggregateatanytimeoutstanding;
WHEREAS,uponthetermsandconditionscontainedintheCreditAgreement(ashereinafterdefined)andtheotherTransactionAgreements,theLendersarewillingtoprovidesuchalineofcredittotheBorrower;and
WHEREAS,DDDwillserviceeachSeries.
NOW,THEREFORE,DDD,theBorrower,theLenderCollateralAgentandtheAgent,intendingtobelegallybound,herebyagreeasfollows:
Section1DEFINITIONS.ForallpurposesofthisAgreement,thefollowingtermsshallhavethemeaningssetforthbelowandthefollowingtermswhicharedefinedintheUniformCommercialCodeineffectintheStateof_________(PLACENAME)fromtimetotimeareusedhereinassodefined:
Accounts,ChattelPaper,Documents,Equipment,FarmProducts,GeneralIntangibles,Instruments,InventoryandProceeds.CapitalizedtermsusedhereinbutnototherwisedefinedshallhavethemeaningssetforthintheCreditAgreement.
ACCRUALPERIODshallmean,withrespecttoanyDistributionDate,theperiodfromandincludingthepreviousDistributionDate(or,inthecaseofthefirstDistributionDate,fromandincludingtheClosingDate)throughandincludingthedayprecedingsuchDistributionDate.
DDDhasthemeaningspecifiedinthePREAMBLE.
ADVERSECLAIMhasthemeaningsetforthinSection8-102(a)
(1)ofRevisedArticle8.
AGENThasthemeaningspecifiedinthePREAMBLE.
AGREEMENTmeansthisSecurityandCollateralAgentAgreement,asitmaybeamended,supplementedorotherwisemodifiedfromtimetotime.
AVERAGEDAILYFUNDEDPERCENTAGEmeans,withrespecttoanyDistributionDate,theaverageoftheFundedPercentageswithrespecttoeachdayintheAccrualPeriodendingonsuchDistributionDate.
BORROWERhasthemeaningspecifiedinthePREAMBLE.
BORROWERACCOUNTCOLLATERALhasthemeaningsetforthinSection3.
BORROWERAGREEMENTShasthemeaningsetforthinSection4.
BORROWERCOLLATERALhasthemeaningsetforthinSection3.
CAPPEDEXPENSESmeans,atanytime,costsandexpensesdueatsuchtime(ifany)totheLenderCollateralAgentundertheTransactionDocumentsnotinexcessof$20,000withrespecttoanyDistributionDate.
CERTIFICATEDSECURITYhasthemeaningsetforthinSection8-102(a)(4)ofRevisedArticle8.
CLEARINGCORPORATIONhasthemeaningsetforthinSection8-102(a)(5)ofRevisedArticle8.
CLEARINGCORPORATIONSECURITYmeansaSecurity(asdefinedinSection8-102(a)(15)ofRevisedArticle8)thatisinthephysicalpossessionof,orregisteredinthenameof,aClearingCorporationoritsnominee.
COLLATERALACCOUNThasthemeaningsetforthinSection7.
CONTROL:
withrespecttoanyFederalBookEntrySecurity,theLENDERCOLLATERALAGENTshallhaveobtainedcontrolif:
(i)theLenderCollateralAgentisaparticipantinthebookentrysystemmaintainedbytheFederalReserveBankthatisactingasfiscalagentfortheissuerofsuchFederalBookEntrySecurity,andsuchFederalReserveBankhasindicatedbybookentrythatsuchFederalBookEntrySecurityhasbeencreditedtotheLenderCollateralAgent’ssecuritiesaccountinsuchbookentrysystem;or
(ii)theLenderCollateralAgentisregisteredsolelyinitsnameontherecordsofaSecuritiesIntermediaryasthepersonhavingaSecurityEntitlementinrespectofsuchFederalBookEntrySecurityagainstsuchSecuritiesIntermediary;and(b)theSecuritiesIntermediaryisaparticipantinthebookentrysystemmaintainedbytheFederalReserveBankthatisactingasfiscalagentfortheissuerofsuchFederalBookEntrySecurity;and(c)suchFederalReserveBankhasindicatedbybookentrythatsuchFederalBookEntrySecurityhasbeencreditedtotheSecuritiesIntermediary’ssecuritiesaccountinsuchbookentrysystem.
CREDITAGREEMENTmeanstheCreditAgreement,datedasof_________(M,D,Y),amongtheBorrower,theContingentObligors,eachNoncommittedLenderandCommittedLenderpartythereto,theLenderCollateralAgentandtheAgent,asamended,extendedorotherwisemodifiedfromtimetotime.
DELIVERY:
whenusedwithrespecttoBorrowerAccountCollateral,Deliverymeans:
(i)withrespecttoPhysicalProperty,transferthereoftotheLenderCollateralAgentoritsnomineeorcustodianbyphysicaldeliverytotheLenderCollateralAgentoritsnomineeorcustodianendorsedto,orregisteredinthenameof,theLenderCollateralAgentoritsnomineeorcustodianorendorsedinblank;
(ii)withrespecttoaCertificatedSecuritythatwill,uponcompliancewiththefollowingprocedures,beheldbyapersonlocatedinaRevisedArticle8Jurisdiction,transferofsuchCertificatedSecuritytotheLenderCollateralAgentoritsnomineeorcustodianbyphysicaldeliverytotheLenderCollateralAgentoritsnomineeorcustodian,endorsedto,orregisteredinthenameof,theLenderCollateralAgentoritsnomineeorcustodianorendorsedinblank;and
(iii)withrespecttoanysuchBorrowerAccountCollateralthatconstitutesanUncertificatedSecurity(includinganyinvestmentsinmoneymarketmutualfunds,butexcludinganyFederalBookEntrySecurity)andwheretheissuerthereofisorganizedinaRevisedArticle8Jurisdiction,(A)registrationoftheLenderCollateralAgentastheregisteredownerbytheissuer,or(B)satisfactionoftherequirementsforobtainingcontrolpursuanttoSection8-106(c)
(2)ofRevisedArticle8.
DESIGNATEDSERIESAMOUNTAVAILABLEmeans,withrespecttoanyDistributionDateandanyDesignatedSeries,thesumof(a)theDesignatedSeriesInvestmentEarningsforsuchDesignatedSeriesforsuchDistributionDate,(b)theDesignatedSeriesSpreadAccountPrincipalReleaseforsuchDesignatedSeriesforsuchDistributionDateand(c)theDesignatedSeriesPremiumDisbursement.
DESIGNATEDSERIESINVESTMENTEARNINGSmeans,withrespecttoanyDistributionDateandanyDesignatedSeries,anyinvestmentincomeearnedonamountsondepositintherelatedDesignatedSeriesRCCAsincethepriorDistributionDate(ortheClosingDateinthecaseofthefirstDistributionDate).
DESIGNATEDSERIESPREMIUMDISBURSEMENTmeans,withrespecttoanyDistributionDateandanyDesignatedSeries,anyamountdistributedpursuanttotherelatedDesignatedSeriesTransactionDocumentsinrespectofFacilityFeesrelatingtotheBorrowingsusedtofundtheRCCAforsuchSeries.
DESIGNATEDSERIESSPREADACCOUNTPRINCIPALRELEASEmeans,withrespecttoanyDistributionDateandanyDesignatedSeries,anyamountsotherthanDesignatedSeriesInvestmentEarningspaidorpayabletotheBorrowerfromamountsondepositintherelatedDesignatedSeriesSpreadAccountorRCCAsincethepriorDistributionDate(ortheClosingDateinthecaseofthefirstDistributionDate).
ELIGIBLEACCOUNTmeans(i)asegregatedtrustaccountmaintainedwiththeLenderCollateralAgentor(ii)asegregateddirectdepositaccountmaintainedwithadepositoryinstitutionortrustcompanyorganizedunderthelawsoftheUnitedStatesofAmerica,oranyoftheStatesthereof,ortheDistrictofColumbia,havingacertificateofdeposit,shorttermdepositorcommercialpaperratingofatleastA-1byStandardPoor’sandP-1byMoody’s.Ineithercase,suchdepositoryinstitutionortrustcompanyshallhavebeenapprovedbytheAgent,actinginitsdiscretion,bywrittennoticetoDDD.
ENTITLEMENTORDERhasthemeaningsetforthinSection8-102(a)(8)ofRevisedArticle8.
FEDERALBOOKENTRYSECURITYmeansanobligation(i)issuedbytheU.S.Treasury,theFederalHomeLoanMortgageCorporationortheFederalNationalMortgageAssociation,oranyotherdirectobligationof,orobligationfullyguaranteedastotimelypayment
orprincipalandinterestby,theUnitedStatesofAmerica,thatisabook-entrysecurityheldthroughtheFederalReserveSystempursuanttoFederalbookentryregulations,and(ii)theperfectionofasecurityinterestinwhichisgovernedpursuanttofederalregulationsbyRevisedArticle8.
FINANCIALASSEThasthemeaningsetforthinSection8-102(a)(9)ofRevisedArticle8.
FUNDEDPERCENTAGEmeans,withrespecttoanyday,thepercentageequivalentofafraction,thenumeratorofwhichistheaggregate
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